...

Kazakh Samruk-Energo earned record profits in 2012

Oil&Gas Materials 26 February 2013 20:44 (UTC +04:00)

Kazakhstan, Astana, 26 Feb. / Trend, D. Mukhtarov /

In 2012, Kazakh Samruk-Energo earned a record profit of nearly 18 billion tenge (150.26 tenge = $ 1), the press-service of Samruk-Energo told on Tuesday.

"We received a record profit. This is due to both the growth of the economy and the decisions taken by government of Kazakhstan, and thanks to the work of our personnel. As a result, the total profit in 2012 amounted to 17.955 billion tenge and exceeded the target by 19 percent, which is mainly due to the increase in profit by 14 percent of companies accounted for under the equity method", the press service quoted the chairman Almasadam Satkaliyev.

According to the press service, electricity production equaled 14,528 million kWh, exceeding the projected target, which is due to the increase in electricity production of JSC Zhambyl TPP named TI Baturov and Ekibastuz TPP-2. The plan for the sale of electricity was also exceeded, totaling 5.626 billion kWh.

Plans for services for transmission and distribution of electricity were also exceeded. Coal production was exceeded by nine percent, which was due to the need of replenishment of stocks in warehouses of the LLP Ekibastuz TPP-1 named after Bulat Nurzhanov and the increase in supplies by Pavlodarenergo.

During the reporting period, JSC Alatau Zharyk Kompaniyasy and LLP AlmatyEnergoSbyt were removed from losses. Acquisition of a 50 per cent share of LLP Ekibastuz TPP-1 named after Bulat Nurzhanov had the significant impact on the growth of consolidated net income and asset growth of the group of companies.

"According to the forecast, in 2013, it is planned to increase total revenues by 46 percent, compared to 2012 and obtain net profit growth of 2.8 times over the proposed inclusion of the LLP Ekibastuz TPP-1 named after Bulat Nurzhanov, JSC EK REC and LLP Shygysenergotrade in the consolidation of companies, the press-service said.

Tags:
Latest

Latest